Jeff LeBlanc is the new general manager at ADESA Moncton in New Brunswick, and ADESA Canada regional vice president Simon Robitaille says LeBlanc “has established relationships within the local dealer community.” LeBlanc “will provide a foundation for ADESA Moncton to excel in addressing the needs of all our customers,” Robitaille said in a news release. […] [Read More]

The Federal Reserve sensed the U.S. economy is becoming ill stemming from the COVID-19 coronavirus outbreak, so policymakers made the surprise move on Tuesday by cutting the target range for the federal funds rate by 50 basis points to 1.00% to 1.25%. Experts at Cox Automotive and TrueCar reacted to the first Fed action outside […] [Read More]

As April 15 looms, 58% of those planning to spend their tax refunds intend to put them toward a car purchase. That is according to a new survey from Enterprise Car Sales, which says it expects that trend to bring continued growth in the used car segment “as drivers look to maximize value and quality […] [Read More]

Vehicle buyer and seller marketplace IAA and claims management technology company Snapsheet say their new integrated partnership will reduce the time insurance carriers take to process claims for total loss vehicles. The companies say the integration combines IAA’s total loss claims and salvage services with Snapsheet’s configurable claims management platform. The news marks what the […] [Read More]

Dealers are on the hunt for inventory that matches potential-buyer preferences as we continue toward spring. As a result, the latest Black Book Market Insight report details price moves on those more popular units, including trucks and SUVs as well as sporty cars and luxury models. Black Book vice president automotive valuations Laura Wehunt — one […] [Read More]

Another consolidation arrived on Tuesday; this time involving firms creating software and technology aimed at helping dealerships retail vehicles when it’s convenient for potential buyers. Shuffling Madness Ventures (SMV), the parent company of PIN Business Network (PIN) and KelCar Holdings, an automotive software company from Hagerstown, Md., announced that they have come together to form […] [Read More]

As purchase preferences continue to skew toward SUVs and trucks, pushing average prices higher, Edmunds noticed what those buyers are being charged to finance that acquisition remained stable in February. Edmunds reported on Tuesday the average interest rate for new-vehicle financing stayed below 6% for the eighth month in a row. The annual percentage rate […] [Read More]

Editor's note: This report has been updated to note the event has been rescheduled for Aug. 24-26 because of the coronavirus pandemic. Compliance for buy-here, pay-here dealerships and finance companies that specialize in the subprime credit space can be extremely complex in connection with issues related to human resources, social media and advertising, as well […] [Read More]

In 1945, World War II came to an end, kicking off an era of economic expansion in the United States that would eventually include the auto industry. That same year, a one-lane auto auction opened in southern Pennsylvania. Less than 15 years later, with the auto industry humming along, Manheim Auto Auction was the world’s […] [Read More]

In light of the COVID-19 coronavirus outbreak, KAR Global is taking a precautionary measure, announcing a temporary air travel restriction for its employees through March 31. In a news release, KAR stressed that this temporary measure is a proactive one, and “not in response to any heightened or specific threat of exposure or spread of […] [Read More]